• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

Kumba strikers face criminal charges

Oct 15 2012 14:55 I-Net Bridge

Company Data

KUMBA IRON ORE LIMITED [JSE:KIO]

Last traded 382.70
Change 8.47
% Change 0.02
Cumulative volume 560401
Market cap 123.26bn

Last Updated: 24/04/2014 at 04:29. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Kumba: Striking miners won't leave

Cosatu, NUM roast Kumba

Kumba talks to striking workers

Kumba losing 120 000 tonnes daily

Strikes about more than wages - NGO

Kumba strike a safety issue

 

Johannesburg - Kumba Iron Ore [JSE:KIO] said on Monday it had obtained a Labour Court order‚ forcing striking workers at its Sishen mine to leave the premises immediately‚ following their failure to appear before the disciplinary hearing this morning.

String employees have been ordered not to be within 500m of the property.

“Should they not leave the mine immediately‚ the South African Police Service has been ordered by the court to remove them‚” Kumba spokesperson Gert Schoeman said.

He said the miners - estimated to be fewer than 120 - would mostly likely be dismissed and criminal charges would be formulated against them.

“They had until 11am this morning to report for a disciplinary hearing for embarking on an illegal strike. The criminal charges include extortion‚ intimidation‚ theft‚ trespassing and malicious damage to property‚” Schoeman said.

The strike‚ which began on October 3‚ has cost SA’s biggest iron producer more than R1.2bn in lost revenue.

The strikers are demanding a monthly salary increase of R15 000 for all Kumba employees. Their current salary range from R12 000 to R31 000 a month‚ excluding housing allowances‚ bonuses and other benefits‚ according to the company.

Last week‚ the miners made off with equipment worth R3.3bn‚ threatening to destroy it if their demands were not met.

At 2pm on Monday Kumba’s share price was down 1.28% at R492.59‚ valuing the company at R15.864bn.


*Follow Fin24 on Twitter and Facebook

 
kumba iron ore  |  mining unrest
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
8 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Nkandla: Zuma 'still looking for undue benefit'

President Jacob Zuma has told supporters at an election rally in Mpumalanga that he had not wrongfully benefited from the upgrade to his Nkandla home.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...